Usa Financial News

[The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a player above at that time.]

bird flu among the nation's dairy cattle after pushback from state and industry officials, according to state and federal records seen by Reuters. The communications, which have not previously been reported, show how the early federal response to the U.S. bird flu outbreak was shaped in part by industry interests reluctant to cooperate with burdensome regulation, and potentially contributed to transmission of the disease across state lines. The USDA's order, released in April after bird flu cases were discovered in cows in eight states, requires milk-producing dairy cattle moving across state lines to secure a negative bird flu test no more than seven days prior to travel. It also allows non-producing cattle headed to slaughter to cross state lines without a veterinarian's clean bill of health.

life sciences vertical, Pune-based mid-tier IT engineering services firm Persistent Systems expects the vertical to clock about two and a half times increase in revenue to $1 billion in the next three to five years. Revenue from the vertical is a little below $100 million per quarter and it is growing 71% year-on-year, chief executive Sandeep Kalra told ET, saying “that’s a dream come true”. The vertical’s contribution to the company’s total revenue has increased by 8 percentage points in the past four quarters, to 27.8% in the July-September quarter from 19.3% in the year-ago period.

American Airlines $50 million for failing to provide wheelchair assistance to passengers with disabilities and damaging thousands of wheelchairs over a five-year period. The Transportation Department said Wednesday that «in some cases,» wheelchair users were injured, but it did not give a number. American said it has made significant investments to improve the handling of wheelchairs. The airline will be credited $25 million, or half of its civil penalty, for those investments and compensation paid to affected passengers, according to a consent order.

US Defence Secretary Lloyd Austin said there is evidence that North Korea has sent troops to Russia on Monday, and South Korea's spy chief told lawmakers that 3,000 North Korean troops are in the country receiving training on drones and other equipment before being deployed to battlefields in Ukraine. Austin told reporters Wednesday «What exactly they are doing? Left to be seen. These are things that we need to sort out,» according to a video posted by the Washington Post. If the troops join the war in Ukraine on Russia's side, it will be «a very, very serious issue,» Austin said, adding it would have an impact in Europe and in the Indo-Pacific region. South Korean intelligence first publicized reports that the Russian navy had taken 1,500 North Korean special warfare troops to Russia last week, while Ukrainian President Volodymyr Zelenskyy had earlier said his government had intelligence that 10,000 North Korea soldiers were being prepared to join the invading Russian forces.

The U.S. government is fining American Airlines $50 million for failing to provide wheelchair assistance to passengers with disabilities and damaging thousands of wheelchairs over a five-year period

The tiny Mideast nation of Kuwait has banned the release of the video game “Call of Duty: Black Ops 6,” which features the late Iraqi dictator Saddam Hussein and is set in part in the 1990s Gulf War

New York Stock Exchange, according to a regulatory filing. The Securities and Exchange Commission (SEC) had in January approved the bitcoin ETFs to track bitcoin, in what was a watershed for the world's largest cryptocurrency and the broader crypto industry.

Bitcoin (BTC), the largest cryptocurrency by market value, has crossed the $69,000 mark, hitting a three-month high during early trading on Monday. This increase comes as the U.S. presidential election approaches in two weeks, with polls showing a growing chance of former President Donald Trump winning the election on November 5. His previous support for cryptocurrencies is boosting confidence among crypto investors. At 11:45 AM IST, Bitcoin was trading 1.2% higher at $69,045, while Ethereum (ETH) rose 3.4% to $2,732. Earlier, Bitcoin briefly reached $69,450.

Subscribe to enjoy similar stories. It is bad enough to contemplate a war in Asia. It is grimmer still to think through a nuclear one.

Kim Jong Un has visited missile bases to examine their readiness to undertake actions of «strategic deterrence», while calling U.S. nuclear capabilities a growing threat to the country, state media reported on Wednesday. The U.S. strategic nuclear arsenal poses an «ever-increasing threat» to North Korea's security environment, which demands that Pyongyang maintain a strict counteraction posture of its nuclear forces, he was quoted as saying by KCNA. North Korea has been stepping up its development of ballistic missiles and a nuclear arsenal, drawing international sanctions, and forming close military relations with Russia.

Trump wins next month's U.S. presidential election, Mike Sagan's toy-making company will halve its China supply chain within a year. KidKraft, which also makes outdoor play equipment, had already shifted 20% of its production out of China to Vietnam, India and elsewhere after Trump introduced 7.5%-25% tariffs in July 2018, midway through his first term. Now Trump threatens blanket 60% tariffs on China, which Sagan sees as a game-changing «blunt» tool.

World Economic Outlook (WEO) and expected India to grow at 7 per cent in the current fiscal year ending March 31, 2025 and 6.5 per cent in the next fiscal year (FY2025-26). «In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic has been exhausted, as the economy reconnects with its potential,» the IMF said in the World Economic Outlook. Looking beyond the one-year outlook, the global economy faces a feeble period of medium-term growth, the IMF said as it called for a slate of reforms in its latest WEO during the annual meetings of the fund and the World Bank in Washington.

EY) has terminated the employment of several employees in the United States for attending multiple online training sessions during the firm's learning week earlier this year. The company stated that this action violated its global code of conduct and ethics. The dismissals occurred last week, and some of the affected employees shared their experiences with The Financial Times.

Kunal Bahl shared his journey to success at the NDTV World Summit 2024, highlighting how setbacks led him to greater opportunities. Bahl, co-founder of Snapdeal and Titan Capital, revealed that not getting into IIT, a prestigious Indian institute, and having his H-1B visa application rejected, were key turning points in his life. Entrepreneur Kunal Bahl shared his journey of overcoming setbacks at the NDTV World Summit 2024. Despite not getting into IIT, a school his parents hoped for, he found success through different paths. Bahl emphasized that failures can lead to opportunities. He also discussed how a rejected H-1B visa application set the stage for his entrepreneurial career.

FIIs) ended up increasing stakes in 8 out of top 10 tech companies in India apparently to play the interest rate cut cycle in the US. September quarter shareholding pattern analysis shows that FII ownership in Infosys rose 54 basis points to 33.28%, TCS 31 bps to 12.66%, Tech Mahindra 40 bps to 23.67%, HCL Tech 22 bps to 18.67% and by 15 bps to 7.27% in case of Wipro.

Nirmala Sitharaman highlighted that more than USD 450 billion has been transferred through Direct Benefit Transfers (DBT) to the people in last 8 years. The minister shared these key insights on India's achievements with Direct Benefit Transfers (DBT) while speaking at the Wharton Business School at the University of Pennsylvania in Philadelphia, USA on Tuesday. «Over 51 ministries and departments in the central government deal with Direct Benefit Transfers (DBT). More than USD 450 billion have been transferred cumulatively in the last 8 years» the minister said.

sugar supplies are seen shrinking to the lowest level in six years in early 2025 as drought hampers production in top exporter Brazil, according to commodities trader Czarnikow Group Ltd. Extreme dryness has eroded sugar-cane crop conditions, limiting mills’ ability to produce sugar in the latter months of the current season and signaling a delayed start to next year’s harvest, Pedro Mizutani, Czarnikow head of raw sugar trading, said during a conference in Sao Paulo. Concerns about production constraints in Brazil — also caused by the spread of plant disease — have kept prices for the sweetener above the historical average for the past several years, underscoring the world’s dependence on the South American nation’s supplies. The country is expected to account for almost 75% of all raw sugar traded globally this year, according to consultancy firm Datagro.

Meta Platforms and Chief Executive Mark Zuckerberg won the dismissal of a lawsuit claiming they misled shareholders in Meta's proxy statement about their ability to ensure the safety of children who use Facebook and Instagram. In a decision on Tuesday, US District Judge Charles Breyer in San Francisco said the plaintiff Matt Eisner failed to show that shareholders suffered economic losses from Meta's alleged inadequate disclosures. He also said federal securities law did not require Meta to detail the severity of sexually explicit content and sexual exploitation of children on its platforms, or all the child protection strategies it decided not to adopt.

Huawei product after tech research firm TechInsights took apart the product, a person familiar with the matter said, revealing a possible violation of export restrictions on the Chinese company. The teardown was of Huawei's Ascend 910B, another source said. The 910B is viewed as most advanced AI chip available from a Chinese company. The first source would not identify the item, but said the TSMC chip was one within a multi-chip system. TechInsights informed TSMC of the chip before publishing its findings in a report, the person said, prompting the Taiwanese firm to notify the U.S. Commerce Department a couple of weeks ago.

E. coli outbreak across 10 states, according to the U.S. Centers for Disease Control (CDC). The outbreak, caused by E. coli O157, sent 10 people to the hospital. This strain was also responsible for the deadly 1993 outbreak at Jack in the Box restaurants. The CDC reported that everyone affected had eaten at McDonald's prior to their illness, with most recalling having a Quarter Pounder. Investigators are focusing on slivered onions and fresh beef patties as potential sources, though the exact ingredient has not yet been identified. McDonald's has removed the slivered onions and beef patties from stores in the affected states, including Colorado and Nebraska, as a precaution. U.S. food safety attorney Bill Marler noted that onions have been tied to past E. coli outbreaks, while beef contamination is rarer due to strict food safety measures.